Occidental Petroleum Corporation (NYSE:OXY) is trading at unusually high volume Friday with 11.8 million shares changing hands. It is currently at 2.1 times its average daily volume and trading up $2.67 (+3%).
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Occidental Petroleum Corporation (NYSE: OXY) is trading at unusually high volume Friday with 11.8 million shares changing hands. It is currently at 2.1 times its average daily volume and trading up $2.67 (+3%) at $90.76 as of 4 p.m. ET.
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Occidental has a market cap of $70.53 billion and is part of the basic materials sector and energy industry. Shares are up 15% year to date as of the close of trading on Thursday. Occidental Petroleum Corporation engages in the exploration and production of oil and gas properties in the United States and internationally. The company operates in three segments: Oil and Gas; Chemical; and Midstream, Marketing and Other. The company has a P/E ratio of 15.9, below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Occidental as a buy. Among the primary strengths of the company is its expanding profit margins over time. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Occidental Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100% See his top picks for 14-days FREE.